WIN, PLACE, SHOW — HOW TO BET ON HORSES

WIN (W) bets demand a horse finishes in 1st location.
PLACE (P) bets require a horse finishes in 1st or 2nd place.
SHOW (S) stakes demand a horse finishes in 1st, 2nd, or 3rd place.
I’m going to make use of the diagram (of the finish of a race) under to answer some common questions on the Win, Place, Show bets. The Tote-Board Win chances are over each horse in parenthesis.
How do you calculate the payout to get a Win Bet?
Win payouts are based on a wager. Multiply the Tote-Board chances occasions $2 and then add the 2 wager back.
For instance, #8 is (7-1), so 7 x $2 = $14, Add $2 = $16 payout.
To compute prices for chances other than X-1, simply convert the (fractional) chances to a decimal equivalent and do the same calculation.
By way of example, chances of (8-5) equals 1.6 x $2 = $3.20, Add $2 = $5.20 payout.

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